Advocis is committed to professionalism. In our view, the true professional advisor adheres to the Six Step process when engaged to provide advice to clients, subscribes to a Code of Professional Conduct, employs Best Practices in the client relationship, carries professional liability protection, and holds a professional designation.

Amongst the membership of Advocis there are many senior experienced advisors who are true professionals in all respects except that they hold no professional designation. Typically, these advisors acquired their extensive skills and knowledge over many years of providing quality service to their clients and through participation in mandatory and voluntary continuing education programs.

Advocis and the CLU Institute recognize the breadth of knowledge possessed by these senior advisors. During 2004, the CLU Institute is offering to those advisors who qualify the opportunity to demonstrate their knowledge and competencies by challenging the CLU exam. To those who are successful, the Institute will award them the CLU designation.

Q. What is this program all about?
The CLU Challenge Exam (the exam) program provides an opportunity to experienced financial advisors to demonstrate that they have acquired specialized skills and knowledge in advanced life insurance applications and estate planning solutions.

Q. Is this just an easy way to get a CLU?
Absolutely not. The Challenge Exam will be a thorough test of the life insurance and estate planning concepts and topics found in the CLU syllabus. Not everyone who writes the exam will pass it. Only those advisors who are familiar with advanced life insurance applications and estate planning solutions have a reasonable chance of success.

Q. Tell me about the exam
The exam will test your knowledge of the topics found in the CLU syllabus. The exam is comprised of two sessions. The first being a three-hour morning session that involves narrative and multiple choice questions covering a variety of topics. The two-hour afternoon session will involve case studies, also with a narrative and multiple choice components. There will be a one-hour break between sessions. Successful candidates will be required to demonstrate a thorough knowledge of the entire syllabus.

Q. Who should apply?
If you are an experienced advisor who may or may not have taken some formal industry education in the past, and feel quite knowledgeable about the topics outlined in the CLU syllabus, then you should attempt to qualify. However, if you are relatively new to the industry and have had little or no formal industry education, and are not thoroughly familiar with the concepts associated with advanced life underwriting and estate planning, then you probably will not qualify to write the exam.

Q. How do I qualify to write?
All candidates must first qualify to write the exam. Candidates must complete the qualification questionnaire. If you qualify, you must have two current CLU advisors submit a reference on your behalf.
What is involved with the qualification process?

The qualification process involves two steps. All candidates will complete the qualification questionnaire, which is designed to assess your industry experience in the areas of advanced life understanding and estate planning along with relevant formal education. Upon submission of the on-line application, you will receive immediate feedback as to the status of your application.

Candidates who qualify to write the exam based on the application component, will be classified as "provisionally qualified." These candidates will be asked to provide the names and email addresses of two CLU advisors who will be asked to submit a reference on your behalf. We will contact the two CLUs and invite them to complete the reference online. Assuming that both letters of reference are satisfactory, you will be contacted and be invited to register for the exam.

Some candidates will be classified as "under consideration." This means that your application and references have been submitted to the Exam Committee for consideration. You will be notified of the committee's decision, usually within ten working days

Q. What if I do not qualify?
Applicants who do not qualify to write the challenge exam, are encouraged to pursue the CLU designation through the traditional educational program manner.

Q. Can I re-write the exam?
Yes you may attempt to re-write the exam, one time. The cost to re-write the exam is $295 + tax. If you do not succeed in passing the exam on the second try, then you will be required to take the regular CLU™ designation program. (An additional – one-time only re-write exam date has been scheduled for April 20/05 – Please note that this is only a final re-write opportunity. Deadline for final re-write exam registration is March 20/05.)

Q. What will my CLU references be asked?
Your references will be asked to comment on their knowledge of your experience and abilities in the areas of advanced life underwriting and estate planning, so it is important to select individuals who are familiar your professional background.

Exam Selection and Costs
The exams will be conducted by the chapters across Canada as follows:

The cost to write the exam is $500 + tax.
The cost to write the re-write exam is $295 + tax